Termination for Monetary Breach Sample Clauses

Termination for Monetary Breach. Caltech shall have the right to terminate this Agreement and the rights and licenses hereunder if Licensee fails to make any payment due including patent expenses, milestone payments, annual minimum royalties or royalties hereunder and Licensee continues to fail to make the payment (either to Caltech directly or by placing any disputed amount into an interest-bearing escrow account to be released when the dispute is resolved) for a period of [***] ([***]) days after receiving written notice from Caltech specifying Licensee’s failure. Upon any such termination, (a) Licensee shall have [***] to complete the manufacture of any Licensed Products that are then works in progress for sale and to sell its inventory of Licensed Products, provided that Licensee pays the applicable royalties, and (b) any sublicenses and options for sublicenses shall survive termination in accordance with Section 2.3. Confidential Portions of this Exhibit marked as [***] have been omitted pursuant to a request for confidential treatment and have been filed separately with the Securities and Exchange Commission.

Termination for Monetary Breach. If a Party fails to make a monetary payment as specified in this Agreement, the non-breaching Party shall notify the other Party of such failure and if the breaching Party fails to cure such breach within three (3) Business Days thereafter, the non-breaching Party may terminate this Agreement or any Statement of Work.

Termination for Monetary Breach. Caltech shall have the right to terminate this Agreement and the rights and licenses hereunder if Licensee fails to make any payment due, including patent costs or the Annual Maintenance Fee hereunder, and Licensee continues to fail to make the payment (either to Caltech directly or by placing any disputed amount into an interest-bearing escrow account to be released when the dispute is resolved) for a period of thirty (30) days after receiving written notice from Caltech specifying Licensee’s failure to make such payment. Upon any such termination: (a) Licensee and its Affiliates shall have six (6) months to complete the manufacture of any Licensed Products that are then works in progress for sale and to sell their inventory of Licensed Products and (b) any sublicenses shall survive termination in accordance with Section 2.3. Alchemy Enterprises, LTD. -12- _________________

Termination for Monetary Breach. Caltech shall have the right to terminate this Agreement and the rights and licenses hereunder if Licensee fails to make any material payment due including patent expenses, minimum annual royalties or royalties hereunder after written notice from Caltech specifying Licensee's failure provided that if Licensee disputes the asserted default, the matter will be submitted to arbitration as provided in Article 12 of this Agreement. In such event, Caltech shall not have the right to terminate this Agreement until it has been determined in such arbitration proceeding that Licensee has failed to make a material payment and Licensee fails to cure such breach within thirty (30) days after the conclusion of such arbitration proceeding. Upon any such termination, (a) Licensee shall have six (6) months to complete the manufacture of any Licensed Products that are then works in progress for sale and to sell its inventory of Licensed Products, provided that Licensee pays the applicable royalties, and (b) any sublicenses shall survive termination in accordance with Section 2.3.

Termination for Monetary Breach. Caltech shall have the right to terminate this Agreement and the rights and licenses hereunder if Licensee fails to make any payment due including patent expenses, minimum annual royalties or royalties hereunder and Licensee continues to fail to make the payment, for a period of thirty (30) days after receiving written notice from Caltech specifying Licensee’s failure; provided, however, that if Licensee receives such default notice from Caltech of nonpayment and if the Licensee notifies Caltech in writing within thirty (30) days of receipt of such notice that it disputes the asserted non-payment, the matter will be submitted to arbitration as provided in Article 12 of this Agreement. In such event, Caltech shall not have the right to terminate this Agreement until it has been finally determined in such arbitration proceeding that Licensee materially breached this Agreement, and further that Licensee has failed to cure such breach within thirty (30) days after the conclusion of such arbitration proceeding. Upon any such termination, (a) Licensee shall have six (6) months to complete the manufacture of any Licensed Products that are then works in progress for sale and to sell its inventory of Licensed Products, provided that Licensee pays the applicable royalties, and (b) any sublicenses shall survive termination in accordance with Section 2.4.

Termination for Monetary Breach. Licensor shall have the right to terminate this Agreement and the rights and licenses hereunder if Licensee fails to make any payment due including patent expenses, minimum annual royalties or royalties hereunder and Licensee continues to fail to make the payment, (either to Licensor directly or by placing any disputed amount into an interest-bearing escrow account to be released when the dispute is resolved) for a period of [**] days after receiving written notice from Licensor specifying Licensee’s failure. Upon any such termination, (a) Licensee shall have [**] to complete the manufacture of any Licensed Products that are then works in progress for sale and to sell its inventory of Licensed Products, provided that Licensee pays the applicable royalties, and (b) any sublicenses shall survive termination in accordance with Section 2.3.

Termination for Monetary Breach. Caltech shall have the right to terminate this Agreement and the rights and licenses hereunder if Licensee fails to make any payment due including patent expenses, minimum annual royalties or royalties hereunder and Licensee continues to fail to make the payment, (either to Caltech directly or by placing any disputed amount into an interest-bearing escrow account to be released when the dispute is resolved) for a period of fifteen (15) days after receiving a second written notice from Caltech specifying Licensee's failure. Caltech's second notice to Licensee specifying Licensee's failure will not occur less than thirty (30) days after Caltech's first notice specifying Licensee's failure. Upon any such termination, (a) Licensee shall have six (6) months to complete the manufacture of any Licensed Products that are then works in progress for sale and to sell its inventory of Licensed Products, provided that Licensee pays the applicable royalties, and (b) any sublicenses shall survive termination in accordance with Section 2.3.

Termination for Monetary Breach. Caltech shall have the right to terminate this Agreement and the rights and licenses hereunder if Licensee fails to make any payment due including patent expenses, milestone payments, annual minimum royalties or royalties hereunder and Licensee continues to fail to make the payment (either to Caltech directly or by placing any disputed amount into an interest-bearing escrow account to be released when the dispute is resolved) for a period of [***] ([***]) days after receiving written notice from Caltech specifying Licensee’s failure. Upon any such termination, (a) Licensee shall have [***] to complete the manufacture of any Licensed Products that are then works in progress for sale and to sell its inventory of Licensed Products, provided that Licensee pays the applicable royalties, and (b) any sublicenses and options for sublicenses shall survive termination in accordance with Section 2.3. HMI | Co-Exclusive License | A B4573824.12 -21- 7/20/2016 Confidential Portions of this Exhibit marked as [***] have been omitted pursuant to a request for confidential treatment and have been filed separately with the Securities and Exchange Commission. Confidential Treatment Requested by Homology Medicines, Inc.